Verastem’s (VSTM) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Verastem (NASDAQ:VSTM) in a research report sent to investors on Friday, Benzinga reports. The firm currently has a $7.00 price target on the biopharmaceutical company’s stock.

Several other equities research analysts also recently weighed in on VSTM. Royal Bank of Canada lowered their price target on Verastem from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, August 9th. StockNews.com upgraded shares of Verastem from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. Guggenheim initiated coverage on shares of Verastem in a report on Monday, September 30th. They issued a “buy” rating and a $13.00 price target for the company. Truist Financial dropped their target price on Verastem from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Finally, B. Riley reduced their price target on Verastem from $21.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Verastem currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.57.

Verastem Trading Up 11.3 %

Shares of NASDAQ:VSTM opened at $2.96 on Friday. The company has a market capitalization of $119.11 million, a PE ratio of -0.89 and a beta of 0.17. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 1.88. Verastem has a 12-month low of $2.10 and a 12-month high of $14.22. The business’s fifty day simple moving average is $2.67 and its 200-day simple moving average is $5.11.

Verastem (NASDAQ:VSTM) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.06) by $0.75. The company had revenue of $10.00 million during the quarter. As a group, equities research analysts predict that Verastem will post -3.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verastem

Several institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in Verastem during the third quarter worth approximately $43,000. Acadian Asset Management LLC acquired a new position in shares of Verastem during the 2nd quarter worth approximately $82,000. Rhumbline Advisers lifted its position in shares of Verastem by 4,172.0% during the 2nd quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock valued at $86,000 after buying an additional 28,119 shares in the last quarter. Cannon Global Investment Management LLC acquired a new stake in Verastem in the 1st quarter valued at $131,000. Finally, Bank of New York Mellon Corp acquired a new stake in Verastem in the 2nd quarter valued at $203,000. Hedge funds and other institutional investors own 88.37% of the company’s stock.

About Verastem

Verastem, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer in the United States. Its product candidates are Avutometinib, an orally available small molecule RAF/MEK clamp that inhibits the ras sarcoma RAF/MEK, ERK mitogen activated pathway kinase pathway which is involved in cell proliferation, migration, transformation, and survival of tumor cells; and Defactinib, an oral small molecule inhibitor of FAK and proline-rich tyrosine kinase for various solid tumors.